New Delhi, April 12 -- The Enforcement Directorate (ED) carried out searches at the offices of promoters and associate entities of Delhi-based real estate firm Earth Infrastructures Limited (EIL), which is accused of collecting Rs.2,024.45 crore from 19,425 homebuyers or investors by promising timely delivery of residential or commercial units along with assured returns, but failed to deliver, agency officials said on Saturday. During the searches, carried out on Friday at 10 locations in Delhi and Gurugram, the federal agency recovered Rs.6.3 crore in cash and jewellery valued at around Rs.7.5 crore, as well as silver bullion and luxury watches. To be sure, EIL has been undergoing corporate insolvency resolution process since 2018. An email query by HT to the Insolvency Professional didn't elicit a response. ED's money laundering probe against EIL and its group entities stems from five FIRs registered by the Economic Offences Wing (EOW) of the Delhi Police against Earth Infrastructures Ltd, its directors, and related entities under various sections of the Indian Penal Code for cheating, criminal breach of trust, and conspiracy. Further, the Serious Fraud Investigation Office (SFIO) has also filed a criminal complaint under Section 447 of the Companies Act against the promoters and directors of the Earth Group. "ED investigation has revealed that Earth Group, through Earth Infrastructures Ltd and its associated companies, launched multiple real estate projects across Delhi-NCR and Lucknow," said an officer. htc...